Industrial-Flex Property For
For Sale
Contact for pricing
820 Washington Blvd, Pittsburgh, PA 15206
41,021 SF industrial-flex space on 4.2 acres available.
Property Size41,021 SF
Lot Size4.20 Acres
Price / SF$96.29
Days on Market153
Property Features for 820 Washington Blvd
General Information
Standard status
Active
Size
41,021 SF
Class
C
Lot size
4.20 Acres
Property subtype
Industrial
Zoning
Urban Industrial
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1969
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Lee & Associates - Western Pennsylvania
(412) 434-1037
Listed By:
Howard West · License #RSR002660
Source:
Crexi
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 10 at 3:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates - Western Pennsylvania
Investment Insights
Based on property information with market context.
This industrial-flex property offers 41,021 square feet of space on a 4.2-acre lot. The property is suitable for commercial real estate purposes.
Key Highlights
- 41,021 SF Industrial‑Flex Space available.
- Situated on a 4.2 AC property.
- Industrial‑Flex Property Type.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$240,613
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,812,260
$4.8M
Cap Rate 7%
$3,437,329
$3.4M
Cap Rate 9%
$2,673,478
$2.7M
Market Conditions
NOI Build-Up for 41,021 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$393.8K $9.60/SF
− Vacancy
−$23.6K −$0.58/SF
EGI
$370.2K $9.02/SF
− OpEx
−$129.6K −$3.16/SF
NOI
$240.6K $5.87/SF
Area
Pittsburgh, PA
Vacancy
6.00%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,812,260
Cap Rate 7%
$3,437,329
Cap Rate 9%
$2,673,478
Alternative Uses
Best Use
Flex RnD
$3.44M
$3.01M – $4.01M
NOI $240,613 @ 7.0% cap · market cap 6.09%
Second Best
Industrial
$3.31M
$2.90M – $3.86M
NOI $231,683 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$13.06M
$11.43M – $15.24M
NOI $914,502 @ 7.0% cap · market cap 23.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
607
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 15206, PA
28,774
Population
17,004
Households
1.7
Avg Household Size
36
Median Age
59%
College-Educated
96%
High-School Grad
4.8 sq mi
ZIP Area
5,995
Density / Sq Mi
$69,906
Median Household Income
$49,009
Median Earnings
$1,284
Median Rent
$288,300
Median Home Value
Market
Vacancy Rate% for Industrial in Pittsburgh, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 41,021 SF industrial-flex space on 4.2 acres available.
Where is this flex space located?
The property is located at 820 Washington Blvd Pittsburgh, PA.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: 41,021 SF Industrial‑Flex Space available.; Situated on a 4.2 AC property.; Industrial‑Flex Property Type.
